As Britain gets caught up in the political crisis and the Boris Johnson administration collapses, oil industry executives are calling on the government to make changes to storm tax measures aimed at curbing the surge in profits of oil and gas companies. increase.
The bill was announced as a way to raise around £ 15 billion, or $ 17.9 billion, to help low-income households with rapidly rising energy prices.Member of Parliament Scheduled Discuss the bill on Monday. In the United States Democratic groups are urging President Biden to enact similar policiesBut it will face big hurdles in Congress.
Oil and gas companies could impose a 25% tax on profits to discourage future investments in times of crisis for Britain, which is facing rising energy prices, the DealBook newsletter reports. I am.
“Many of the financial institutions that lend money to our industry see governments sending very complex signals,” said Mike Tholen, Sustainability Director of the industry group Offshore Energies UK. .. Tholen, who is seeking a meeting with Exchequer’s new prime minister, Nadhim Zahawi, to discuss potential changes, said taxes have helped lower gas prices.
Some scholars say the warning from the oil industry is exaggerated. Arun Advani, a researcher at the Institute for Fiscal Studies, told DealBook that some companies’ discussions about tax cuts on their ability to invest in future renewable energy sources are unexpected for these additional benefits. He said he couldn’t hold up because it was.
A storm tax plan comes as the oil company reports record profits. Shell said he expects refining profits to nearly triple and add $ 1 billion to earnings as petroleum product prices soar due to lack of refining capacity. BP reported the largest quarterly profit in 10 years.
